Penny is staying in Italy but confirms it is still making a loss

Pennyis targeting the Italian market in 2028, when the German discount chain expects to become profitable, bringing its EBITDA margin as a percentage of turnover into positive territory at 1–2 per cent.

This will be the path to gradually closing the gap with those that the Rewe Group brand considers its direct competitors:LidlandEurospin (as they are among the leading discounters in Italy). In his first interview as the new Italian CEO since 1 February,

Arnd Riehl further denies press rumours of a possible exit from the Italian market…